Detroit Pension Cuts From Bankruptcy Prompt Cries of Betrayal

Detroit’s record $18 billion municipal bankruptcy has resulted in a bitter outcome for David Espie, 58, who will repay the city $75,000 in a lump sum while his $3,226 monthly pension is cut by $216.

Photographer: Bryan Mitchell/Bloomberg

Pension checks will shrink 6.7 percent for 12,000 Detroit retirees beginning in March. Making matters worse, many also must pay back thousands of dollars of excess interest they received.

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